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Euronext confirms 2019 targets as FY'17 profit rises 22.5% YOY

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Euronext confirms 2019 targets as FY'17 profit rises 22.5% YOY

Euronext NV reported full-year 2017 unaudited consolidated profit of €241.3 million, compared to €197.0 million earned in 2016.

EPS for the period was €3.45, compared to the year-ago €2.82.

Operating profit rose on a yearly basis to €266.1 million from €258.8 million. The result included €14.8 million of exceptional costs primarily related to the €5.0 million break-up fee in the third quarter of 2017 for the termination of the derivatives clearing agreement with Intercontinental Exchange Inc. in the Netherlands following the conclusion of an agreement with LCH SA.

The Dutch exchange operator said EBITDA was "robust" in 2017 at €297.8 million, representing a margin of 55.9%, compared to €283.9 million, or 57.2%, in 2016.

The exchange will propose a dividend payment of €1.73 per share for 2017, representing a 21.8% increase compared to 2016.

Euronext also confirmed its main 2019 targets, including its aim to achieve an EBITDA margin of 61% to 63%, excluding clearing.

"Our confidence is strong for the next two years. Core business revenue should grow in line with forecasts, and we will continue our cost control discipline to ensure the 61% to 63% EBITDA margin target is reached in 2019, excluding clearing activities," CEO and managing board Chairman Stéphane Boujnah said.